BlackLine $BL Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in BlackLine by 0.5%, now holding approximately 7.17 million shares worth $347 million.
• Several other institutional investors have adjusted their stakes, with notable increases including Asset Management One Co. by 67.6% and Bayforest Capital Ltd. by 282.6% during the first quarter.
• BlackLine reported earnings of $0.51 per share for the most recent quarter, exceeding analyst expectations, while its revenue grew by 7.2% compared to the same period last year.

Vanguard Group Inc. lessened its holdings in BlackLine (NASDAQ:BL - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,173,318 shares of the technology company's stock after selling 39,327 shares during the period. Vanguard Group Inc. owned approximately 11.37% of BlackLine worth $347,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of BL. Topline Capital Management LLC acquired a new position in shares of BlackLine in the 4th quarter valued at $60,572,000. Westwood Holdings Group Inc. lifted its stake in shares of BlackLine by 106.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock valued at $57,443,000 after purchasing an additional 611,499 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of BlackLine in the 4th quarter valued at $23,770,000. Balyasny Asset Management L.P. lifted its stake in shares of BlackLine by 365.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 405,801 shares of the technology company's stock valued at $24,656,000 after purchasing an additional 318,647 shares during the last quarter. Finally, Ananym Capital Management LP acquired a new position in shares of BlackLine in the 4th quarter valued at $17,497,000. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Activity

In related news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the sale, the chief accounting officer directly owned 25,235 shares of the company's stock, valued at $1,391,457.90. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

BlackLine Stock Up 1.2%

Shares of BL traded up $0.62 during mid-day trading on Thursday, reaching $52.85. The company's stock had a trading volume of 997,159 shares, compared to its average volume of 881,897. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The stock has a market cap of $3.27 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 8.57 and a beta of 0.91. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The company's 50 day moving average is $54.58 and its 200 day moving average is $52.24.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The business had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Equities analysts anticipate that BlackLine will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a research note on Tuesday, July 29th. Zacks Research upgraded BlackLine to a "strong sell" rating in a report on Friday, August 8th. BMO Capital Markets boosted their price objective on BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, DA Davidson restated a "neutral" rating and set a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.08.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.